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Daily Report |
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You'll find charting
commentary and market calls here by 9:30am EST Monday
through Friday. Archives are also available.
Daily Reports are available through raghee.com
subscription. Visit raghee.com for more
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daily
report archive...
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Webinars |
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All Super Saturday webinar
playbacks are available through raghee.com. These
include the July 0'5, December '05 and February
'06....visit
www.raghee.com
to register for free Super Saturday webinar playback as
well as raghee.com's "Five Free" Forex offer and other
special offers. |
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Chat and WC Playback |
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All Winner's Circle members
and software subscribers get access to the twice weekly
webinar playback. Playbacks will be uploaded
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All playbacks require Window Media Player and are in
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view
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Read
Raghee's blog
About
automated software
Visit
TradeDirectFX
Thirty
Days of Trading site |
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There is streaming multimedia video
at the bottom of the page. You
can stop the video with the controls
under the playback. Scroll
down to see or stop the video. |
|
Update for Monday, April 3rd
10:26am: Pairs and Time |
| One
chart reminded me of something we
have not discussed in some time and
that's the next step after asking
ourselves "who's awake?"
The
follow-up question to that should be
"Is the country of the pair that I
am looking to trade awake?"
Here's an example with the Kiwi.
Now remember in Sydney it's 12:26am
as I type this. New Zealand is
also asleep. So as I look at
this potential breakdown in the Kiwi
on the 60 minute charts is there
home nation participation? No,
not right now. This is not
necessarily going to always keep me
from entering a trade. For
example on pairs like the Euro and
Yen participation is global.
But with a pair like the Kiwi, this
is not the case.

The
breakdown is confirmed and that
alone could certainly trigger the
entry short. The stop-loss is
a tight one with the downtrend line
close by (the point at which this
trade is no longer valid) and the
top line of the Wave should offer
some resistance. Just keep in
mind that the Kiwi doesn't have a
lot of active trading when
Australian and New Zealand markets
are closed. |
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Update for Monday, April 3rd
10:10am: The U.S. Dollar Cash
Index |
| Good
Morning Traders, let's see what
persists on my radar this morning.
It's really sideways market after
sideways market this morning...One
look at the U.S. Dollar Cash Index
and it is abundantly clear.

The
90.00 level ("00" pip psychological
number) is currently support as we
should expect to be at least for a
short time. Remember to always
keep an eye on both these
"invisible" psychological levels.

The
look on the daily chart is a little
different story because the larger
triangle pattern that has been
developing for some time now is
trying to break to the upside.
The resistance seems to be at the
top line of the Wave and the
downtrend line itself although
prices did pierce both these levels
and then quickly retrace. The
high this morning was 90.40.
But what we will keep an eye on here
is the not the resistance but the
90.00 support. Now remember
the pairs that have the most direct
relationship to the U.S. Dollar are
the Euro and Swissy. |
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|
Learn how to
get the Raghee Report free*.
Click here to open an account with
TradeDirectFX |
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|
Update for Sunday, April 2nd:
Returning to the office from a great
weekend! |
|
Hi Gang, I am just returning to the
office from a relaxing weekend of
fishing. My husband and I
attended the the
Maverick/Hewes/Pathfinder Owners
"Fun"ament in Ft. Pierce, FL. and it
was a great time. We got to
tour the plant where the boats are
made as well as fish in the annual
tournament. The weather was
great even if the fishing wasn't.
My husband and I own a vintage Hewes
flats boat and try to get in the
skinny water and backcountry as
often as we can to fish.
I also
was at the Forex Trading Expo in Ft.
Lauderdale on Thursday and Friday
and got to meet a few Circle members
as well as sign some books...it was
great meeting many of you. I
also put on a four hour presentation
which I will be able to make
available to you folks soon.
The folks over and Intershow
recorded the event and I had already
committed to donate my profits from
the event to St. Jude's Children
Hospital.
One
thing that attendee after attendee
told me was "eye opening" was the
fact that I do not get up at two in
the morning trade but rather that I
trade the U.S. open and the U.K.
afternoon/close.
The
other was the way I broke down the
clock angles of the Wave. I
simplified the entire process by the
three types of entries that I use:
momentum, swing, and Wave/CCI.
When the
Wave is traveling at between:
12:00
and 2:00 = swing trade (long entry)
3:00 =
momentum trade
2:00 to
4:00* = Wave/CCI trade
4:00 to
6:00 = swing trade (short entry)
*
Remember that a 3:00 clock angle is
not when you want to use the
Wave/CCI.
This
week's economic reports:
|
Apr 03 |
00:00EST |
Auto Sales |
March |
|
Apr 03 |
00:00EST |
Truck Sales |
March |
|
Apr 03 |
10:00EST |
Construction
Spending |
February |
|
Apr 03 |
10:00EST |
ISM Index |
March |
|
Apr 05 |
10:00EST |
ISM Services |
March |
|
Apr 05 |
10:30EST |
Crude
Inventories |
March |
|
Apr 06 |
08:30EST |
Initial
Claims |
April |
|
Apr 07 |
08:30EST |
Average
Workweek |
March |
|
Apr 07 |
08:30EST |
Hourly
Earnings |
March |
|
Apr 07 |
08:30EST |
Nonfarm
Payrolls |
March |
|
Apr 07 |
08:30EST |
Unemployment
Rate |
March |
|
Apr 07 |
10:00EST |
Wholesale
Inventories |
February |
|
Apr 07 |
15:00EST |
Consumer
Credit |
February |
|
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Learn how to
get the Raghee Report free*.
Click here to open an account with
TradeDirectFX |
| |
|
Update for Friday, March 31st:
Ft. Lauderdale |
| I'm
at the Expo this morning and so
there will be no update today...I'll
be back on Monday. Have a
great weekend! |
| |
|
Update for Thursday, March 30th:
ThirtyDaysofTrading.com |
| Hey
Traders, I posted an excerpt from my
upcoming book "Thirty Days of
Trading" over at
www.thirtydaysoftrading.com.
The section is about "The Four Keys
to Order Execution" which I will be
discussing at tomorrow's Expo
presentation. And by the way,
if you haven't already, be sure and
check out the "Canada walk through"
video I posted yesterday...just
scroll down. And then head
over to thirtydaysoftrading.com! |
| |
|
Update for Thursday, March 30th:
The sideways U.S. Dollar |
| The
action of the overall market hasn't
been terrible on the shorter
intraday charts. There's
decent range and the 30 and 60
minute charts have yielded some nice
set ups and follow-though.
You'll notice though that the longer
term time frames, especially the
daily time frame, have been stuck in
a range...you need not look any
further than the U.S. Dollar Cash
Index chart.

The
sideways, three o'clock Wave and the
triangle pattern that continues to
squeeze prices are the culprit.
Until we get outside this range the
follow-through of the longer term
charts like the daily, will be
non-existent. |
| |
|
Update for Thursday, March 30th
8:06am-6:15am EST |
|
I've got a 1:00pm presentation at
the Forex Trading Expo in Ft.
Lauderdale this afternoon. I
love live presenting...and I look
forward to meeting many of you who
are making the flight or the drive
to Ft. Lauderdale.
We
have GDP and Initial Claims coming
out this morning. Both are
being released at 8:30am and that's
our hot zone.
So
let's see what's on my radar this
morning. The equal and
opposite forces of the Euro and
Swissy are at work this morning.


Both
these charts are setting up within a
triangle pattern. The Swissy
has already broken down on the
smaller time frame charts but the
longer time frames of the 180 and
240 minute are still in "wait and
see" mode.
The
240 Euro however has made it's move
and broken up through the downtrend
line. The only thing keeping
me from getting long is the
price...the 1.2085-.2087 break is
only 13-15 pips below the 1.2100
level which by the way was the high
of the breakout candle. The
horizontal line just above the high
of the breakout candle is
1.2107-.2108.
One
of the questions I get often are
what happens when you have two time
frames of the same pair that are
setting up at the same time, with
opposite entries. Well, if
it's only a set up then there
is not really a problem. If it's a
confirmation of both at the same
time remember that the longer term
charts carry more weight -- but we
still have to wait and see if either
chart confirms. Here are two
charts of the Yen.

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Learn how to
get the Raghee Report free*.
Click here to open an account with
TradeDirectFX |
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|
Update for Wednesday, March 29th:
Canada walk-through |
|
Created by Camtasia Studio 3
|
| If
you have any problems viewing the
video on this site. Please
make sure you have Macromedia Flash
Player which is a free download at
www.macromedia.com and Windows
Media Player which is available at
www.microsoft.com |
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Weekly Multimedia Lesson
with Raghee Horner...This
is a chance for you to take
between eight and ten minutes
and learn a new tip or technique
as it applies to my trading
style, momentum and swing
entries, profit targets,
stop-losses, Fibonacci Levels,
Pivot Points, candlesticks, the
Wave, and confirmation
indicators like the CCI and MACD
Histogram. These
multimedia lessons will also be
archived.
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